Final Terms Endgültige Bedingungen

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1 In case of Notes listed on the Official List of the Luxembourg Stock Exchange and traded on the Regulated Market "Bourse de Luxembourg" or publicly offered in the Grand Duchy of Luxembourg, the Final Terms will be displayed on the website of the Luxembourg Stock Exchange ( The Final Terms will also be displayed on the website of DZ BANK ( and will be available in printed form, free of charge, at the registered office of the Issuer specified below. Final Terms Endgültige Bedingungen 2 September September 2013 EUR 20,000,000 Fixed Rate Subordinated Notes of 2013/2022 EUR festverzinsliche nachrangige Schuldverschreibungen von 2013/2022 (to be consolidated, form a single issue with and increase the aggregate principal amount of the EUR 20,000,000 Fixed Rate Subordinated Notes of 2013/2022 issued on 17 July 2013 and the EUR 30,000,000 Fixed Rate Subordinated Notes of 2013/2022 issued on 29 July 2013 to a total aggregate principal amount of EUR 70,000,000) (Diese Anleihe wird mit den EUR festverzinslichen nachrangigen Schuldverschreibungen von 2013/2022 begeben am 17. Juli 2013 und den EUR festverzinslichen nachrangigen Schuldverschreibungen von 2013/2022 begeben am 29. Juli 2013 zusammengeführt werden, eine einheitliche Anleihe mit ihnen bilden und ihren Gesamtnennbetrag auf EUR erhöhen) issued pursuant to the begeben aufgrund des Debt Issuance Programme dated 14 May 2013 datiert 14. Mai 2013 of der DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (having its registered office at Platz der Republik, Frankfurt am Main, Federal Republic of Germany) (mit eingetragenem Sitz in Platz der Republik, Frankfurt am Main, Bundesrepublik Deutschland) Issue Price: per cent free to trade plus accrued interest Ausgabepreis: 102,50 % freibleibend plus Stückzinsen Issue Date: 4 September 2013 Valutierungstag: 4. September 2013 Series No.: A285 Serien Nr.: A285 Tranche No.: 3 Tranche Nr.: 3 Maturity Date: 30 December 2022 Endfälligkeitstag: 30. Dezember 2022

2 INTRODUCTION EINLEITUNG This document constitutes the Final Terms of an issue of Notes under the Debt Issuance Programme (the "Programme") of DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main ("DZ BANK") and DZ PRIVATBANK S.A. ("PBLU"). Dieses Dokument stellt die Endgültigen Bedingungen einer Emission von Schuldverschreibungen unter dem Debt Issuance Programme (das "Programm") der DZ BANK AG Deutsche Zentral- Genossenschaftsbank, Frankfurt am Main ("DZ BANK") und DZ PRIVATBANK S.A. ("PBLU") dar. These Final Terms have been prepared for the purpose of Article 5(4) of Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 (as amended by the Directive 2010/73/EU of the European Parliament and of the Council of 24 November 2010) (the "Prospectus Directive") and must be read in conjunction with the Debt Issuance Programme Prospectus dated 14 May 2013 pertaining to the Programme, including the documents incorporated by reference (the "Prospectus"). The Prospectus is available for viewing in electronic form on the website of the Luxembourg Stock Exchange ( and on the website of DZ BANK ( Copies may be obtained free of charge from DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, Platz der Republik, Frankfurt am Main, Federal Republic of Germany and from DZ PRIVATBANK S.A., 4, rue Thomas Edison, 1445 Luxembourg-Strassen, Grand Duchy of Luxembourg. Full information on DZ BANK and the offer of the Notes is only available on the basis of the combination of the Prospectus, any supplement and these Final Terms. Diese Endgültigen Bedingungen wurden für die Zwecke des Artikel 5(4) der Richtlinie 2003/71/EG des Europäischen Parlaments und des Rates vom 4. November 2003 (geändert durch die Richtlinie 2010/73/EU des Europäischen Parlaments und des Rates vom 24. November 2010) (die "Prospektrichtlinie") abgefasst und sind in Verbindung mit dem Debt Issuance Programme Prospekt vom 14. Mai 2013 über das Programm einschließlich der durch Verweis einbezogenen Dokumente (der "Prospekt") zu lesen. Der Prospekt kann in elektronischer Form auf der Website der Luxemburger Wertpapierbörse ( und auf der Website der DZ BANK ( eingesehen werden. Kopien sind kostenlos erhältlich bei der DZ BANK AG Deutsche Zentral- Genossenschaftsbank, Frankfurt am Main, Platz der Republik, Frankfurt am Main, Bundesrepublik Deutschland und der DZ PRIVATBANK S.A., 4, rue Thomas Edison, 1445 Luxemburg- Strassen, Großherzogtum Luxemburg. Um vollständige Informationen über die DZ BANK und das Angebot der Schuldverschreibungen zu erhalten, sind die Endgültigen Bedingungen, der Prospekt und etwaige Nachträge im Zusammenhang zu lesen. An issue-specific summary (the "Issue-Specific Summary"), fully completed for the Tranche of Notes, is annexed to these Final Terms. Eine emissionsbezogene Zusammenfassung (die "Emissionsbezogene Zusammenfassung"), vollständig ausgefüllt für die Tranche von Schuldverschreibungen, ist diesen Endgültigen Bedingungen beigefügt. 2

3 PART I: TERMS AND CONDITIONS TEIL I: ANLEIHEBEDINGUNGEN This PART I of these Final Terms is to be read in conjunction with the A1. Terms and Conditions of Fixed Rate Notes (other than Covered Notes) of DZ BANK (the "Terms and Conditions") set forth in the Prospectus. Capitalised Terms not otherwise defined in this PART I of these Final Terms shall have the same meanings specified in the Terms and Conditions. Dieser TEIL I dieser Endgültigen Bedingungen ist in Verbindung mit den A1. Anleihebedingungen für festverzinsliche Schuldverschreibungen (ausgenommen Gedeckte Schuldverschreibungen) der DZ BANK (die "Anleihebedingungen") zu lesen, die im Prospekt enthalten sind. Begriffe, die in diesem TEIL I dieser Endgültigen Bedingungen nicht anders lautend definiert sind, haben die gleiche Bedeutung, wie sie in den Anleihebedingungen festgelegt sind. All references in this PART I of these Final Terms to numbered paragraphs and sub-paragraphs are to paragraphs and sub-paragraphs of the Terms and Conditions. Bezugnahmen in diesem TEIL I dieser Endgültigen Bedingungen auf Paragraphen und Absätze beziehen sich auf die Paragraphen und Absätze der Anleihebedingungen. The provisions in this PART I of these Final Terms and the Terms and Conditions, taken together, shall constitute the terms and conditions applicable to the Tranche of Notes (the "Conditions"). Die Angaben in diesem TEIL I dieser Endgültigen Bedingungen zusammengenommen mit den Bestimmungen der Anleihebedingungen stellen die für die Tranche von Schuldverschreibungen anwendbaren Bedingungen dar (die "Bedingungen"). Language of Conditions Sprache der Bedingungen German and English (German text controlling and binding) Deutsch und Englisch (deutscher Text maßgeblich und bindend) 1 CURRENCY / DENOMINATION / FORM / DEFINITIONS 1 WÄHRUNG / STÜCKELUNG / FORM / DEFINITIONEN Sub-paragraph (1) Absatz (1) Notes Schuldverschreibungen Currency and Denomination Währung und Stückelung Currency Währung EUR EUR Aggregate Principal Amount EUR 20,000,000 Gesamtnennbetrag EUR Specified Denomination/Principal Amount EUR 1,000 Festgelegte Stückelung/Nennbetrag EUR Sub-paragraph (3) Absatz (3) Permanent Global Note Dauerglobalurkunde Sub-paragraph (5) Absatz (5) Clearing System Clearing System Clearstream Banking AG 3

4 2 INTEREST 2 ZINSEN Fixed Rate Notes Festverzinsliche Schuldverschreibungen Sub-paragraph (1) Absatz (1) Rate of Interest and Interest Payment Dates Zinssatz und Zinszahlungstage Rate of Interest Zinssatz per cent per annum % p.a. Issue Date/Interest Commencement Date 17 July 2013 Valutierungstag/Verzinsungsbeginn 17. Juli 2013 Interest Payment Dates Zinszahlungstage First Interest Payment Date Erster Zinszahlungstag 30 December in each year 30. Dezember eines jeden Jahres 30 December 2013 (short first coupon) 30. Dezember 2013 (kurzer erster Kupon) Initial broken interest amount per aggregate principal amount EUR 341, Anfänglicher Bruchteilszinsbetrag bezogen auf den Gesamtnennbetrag EUR ,89 Interest Payment Date preceding the Maturity Date 30 December 2021 Zinszahlungstag, der dem Endfälligkeitstag vorangeht 30. Dezember 2021 Sub-paragraph (2) Absatz (2) Business Day Convention Geschäftstagekonvention Following Business Day Convention Folgender Geschäftstag-Konvention No Adjustment of Interest Keine Anpassung der Zinsen Business Day Geschäftstag Clearing System and TARGET2 Clearing System und TARGET2 Sub-paragraph (5) Absatz (5) Day Count Fraction Zinstagequotient Actual/Actual (ICMA Rule / Regelung 251) 3 REDEMPTION 3 RÜCKZAHLUNG Maturity Date 30 December 2022 Endfälligkeitstag 30. Dezember

5 4 EARLY REDEMPTION 4 VORZEITIGE RÜCKZAHLUNG Sub-paragraph (3) Absatz (3) Early Redemption upon the occurrence of a Regulatory Event Vorzeitige Rückzahlung bei Eintritt eines Aufsichtsrechtlichen Ereignisses 6 PAYMENTS / FISCAL AGENT / PAYING AGENT 6 ZAHLUNGEN / EMISSIONSSTELLE / ZAHLSTELLE Sub-paragraph (1) Absatz (1) Fiscal Agent/specified office Emissionsstelle/bezeichnete Geschäftsstelle DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main Platz der Republik Frankfurt am Main Federal Republic of Germany Sub-paragraph (4) Absatz (4) Payment Date Zahltag Clearing System Clearing System TARGET2 TARGET2 Platz der Republik Frankfurt am Main Bundesrepublik Deutschland 8 STATUS 8 STATUS Tier-2-Subordinated Tier-2-Nachrangig 9 TAXATION 9 STEUERN Sub-paragraph (1) Absatz (1) No Gross-up provision Keine Quellensteuerausgleichsklausel 12 NOTICES 12 BEKANNTMACHUNGEN Sub-paragraph (1) Absatz (1) Federal Republic of Germany (Federal Gazette) Bundesrepublik Deutschland (Bundesanzeiger) 5

6 PART II/1: ADDITIONAL INFORMATION RELATED TO NOTES WITH A SPECIFIED DENOMINATION PER UNIT OF LESS THAN EUR 100,000 TEIL II/1: ZUSÄTZLICHE ANGABEN BEZOGEN AUF SCHULDVERSCHREIBUNGEN MIT EINER FESTGELEGTEN STÜCKELUNG VON WENIGER ALS EUR A. ESSENTIAL INFORMATION A. GRUNDLEGENDE ANGABEN Interests of natural and legal persons involved in the issue / offer Interessen von Seiten natürlicher und juristischer Personen, die an der Emission / dem Angebot beteiligt sind Certain of the Dealers appointed under the Programme and their affiliates have engaged, and may in future engage, in investment banking and/or commercial banking transactions with, and may perform services for, the Issuer in the ordinary course of business. Save as discussed in the previous sentence, so far as the Issuer is aware, no person involved in the issue of the Notes has an interest material to the offer. Einzelne der unter dem Programm ernannten Platzeure und ihre Tochtergesellschaften haben Geschäfte mit der Emittentin im Investment Banking und/oder kommerziellen Bankgeschäft getätigt und können dies auch in Zukunft tun und Dienstleistungen für die Emittentin im Rahmen der gewöhnlichen Geschäftstätigkeit erbringen. Mit Ausnahme der im vorherigen Satz angesprochenen Interessen bestehen bei den an der Emission der Schuldverschreibungen beteiligten Personen nach Kenntnis der Emittentin keine Interessen, die für das Angebot bedeutsam sind. Other interest (specify) Andere Interessen (angeben) Reasons for the offer and use of proceeds Gründe für das Angebot und Verwendung des Emissionserlöses The net issue proceeds from the issue of the Subordinated Notes will be used to strengthen the capital base of DZ BANK AG to support the continuing growth of its business. Der Netto-Emissionserlös aus der Emission der nachrangigen Schuldverschreibungen wird zur Stärkung des Eigenkapitals der DZ BANK AG verwendet, um das anhaltende Wachstum ihres Geschäfts zu unterstützen. Estimated net issue proceeds EUR 20,500,000 Geschätzter Netto-Emissionserlös EUR Estimated total expenses of the issue EUR 800 Geschätzte Gesamtkosten der Emission EUR 800 6

7 B. INFORMATION CONCERNING THE NOTES TO BE OFFERED/ADMITTED TO TRADING B. ANGABEN ZU DEN ANZUBIETENDEN/ ZUM HANDEL ZUZULASSENDEN SCHULDVERSCHREIBUNGEN Eurosystem eligibility EZB-Fähigkeit Intended to be held in a manner which would allow Eurosystem eligibility (NGN) Soll in EZB-fähiger Weise gehalten werden (NGN) Intended to be held in a manner which would allow Eurosystem eligibility Soll in EZB-fähiger Weise gehalten werden Not intended to be held in a manner which would allow Eurosystem eligibility Soll nicht in EZB-fähiger Weise gehalten werden Securities Identification Numbers Wertpapier-Kenn-Nummern ISIN Code ISIN Code DE000DZ1JB29 DE000DZ1JB29 Common Code Common Code German Securities Code Deutsche Wertpapier-Kenn-Nummer (WKN) Any other securities number Sonstige Wertpapier-Kenn-Nummer Yield Rendite DZ1JB2 DZ1JB2 Not applicable Nicht anwendbar per cent per annum 3,430 % p.a. Resolutions, authorisations and approvals by virtue of which the Notes have been issued Beschlüsse, Ermächtigungen und Genehmigungen aufgrund derer die Schuldverschreibungen begeben wurden On 8 April 2013, the responsible Members of the Board of Management of DZ BANK have authorised the issuance of the types of Notes under the Programme. The Tranche of Notes under the Programme will be issued pursuant to internal rules of DZ BANK. Die zuständigen Vorstandsmitglieder des Vorstands der DZ BANK haben am 8. April 2013 die Emission der Schuldverschreibungen unter dem Programm genehmigt. Jede Tranche von Schuldverschreibungen wird aufgrund von internen Regelungen der DZ BANK begeben. C. TERMS AND CONDITIONS OF THE OFFER C. BEDINGUNGEN UND KONDITIONEN DES ANGEBOTS Conditions, offer statistics, expected time table and action required to apply for the offer Bedingungen, Angebotsstatistiken, erwarteter Zeitplan und erforderliche Maßnahmen für das Angebot Conditions to which the offer is subject Bedingungen, denen das Angebot unterliegt Public offer in the Federal Republic of Germany, the Republic of Austria and the Grand Duchy of Luxembourg Öffentliches Angebot in der Bundesrepublik Deutschland, der Republik Österreich und dem Großherzogtum Luxemburg Total amount of the issue/offer; if the amount is not fixed, description of the arrangements and time for announcing to the public the definitive amount of the offer Gesamtbetrag der Emission/des Angebots. Ist der Betrag nicht festgelegt, Beschreibung der Vereinbarungen und des Zeitpunkts für die Ankündigung des endgültigen Angebotsbetrags an das Publikum EUR 20,000,000 EUR

8 The time period, including any possible amendments, during which the offer will be open and description of the application process Frist einschließlich etwaiger Änderungen während der das Angebot vorliegt und Beschreibung des Prozesses für die Umsetzung des Angebots The public offer will commence on 2 September 2013 and end with the expiry of the period of validity of the Prospectus on 13 May 2014, at the latest, unless CSSF agrees to an extension of the period of validity of the Prospectus for this Series of Notes. In this case, the public offer ends on the date on which the extended period of validity of the Prospectus expires. Das öffentliche Angebot beginnt am 2. September 2013 und endet spätestens mit Ablauf der Gültigkeitsdauer des Prospektes am 13. Mai 2014, es sei denn, die CSSF stimmt einer Verlängerung der Gültigkeitsdauer des Prospekts für diese Serie von Schuldverschreibungen zu. In diesem Fall endet das öffentliche Angebot mit Ablauf des Datums, an dem der Prospekt seine verlängerte Gültigkeitsdauer verliert. A description of the possibility to reduce subscriptions and the manner for refunding excess amount paid by applicants Beschreibung der Möglichkeit zur Reduzierung der Zeichnungen und der Art und Weise der Erstattung des zu viel gezahlten Betrags an die Zeichner not applicable nicht anwendbar Details of the minimum and/or maximum amount of application (whether in number of Notes or aggregate amount to invest) Einzelheiten zum Mindest- und/oder Höchstbetrag der Zeichnung (entweder in Form der Anzahl der Schuldverschreibungen oder des aggregierten zu investierenden Betrags) not applicable nicht anwendbar Method and time limits for paying up the Notes and for delivery of the Notes Methode und Fristen für die Bedienung der Schuldverschreibungen und ihre Lieferung Delivery against payment Lieferung gegen Zahlung Free-of-payment delivery Lieferung frei von Zahlung A full description of the manner and date in which results of the offer are to be made public Vollständige Beschreibung der Art und Weise und des Termins, auf die bzw. an dem die Ergebnisse des Angebots offenzulegen sind not applicable nicht anwendbar The procedure for the exercise of any right of pre-emption, the negotiability of subscription rights and the treatment of subscription rights not exercised Verfahren für die Ausübung eines etwaigen Vorzugsrechts, die Übertragbarkeit der Zeichnungsrechte und die Behandlung von nicht ausgeübten Zeichnungsrechten not applicable nicht anwendbar Plan of distribution and allotment Plan für den Vertrieb und die Zuteilung If the offer is being made simultaneously in the markets of two or more countries and if a tranche has been or is being reserved for certain of these, indicate any such tranche Erfolgt das Angebot gleichzeitig auf den Märkten in zwei oder mehreren Ländern und wurde/wird eine bestimmte Tranche einigen dieser Märkte vorbehalten, Angabe dieser Tranche not applicable nicht anwendbar Process for notification to applicants of the amount allotted and indication whether dealing may begin before notification is made Verfahren zur Meldung des den Zeichnern zugeteilten Betrags und Angabe, ob eine Aufnahme des Handels vor dem Meldeverfahren möglich ist 8

9 not applicable nicht anwendbar Pricing Preisfestsetzung Indicate the amount of any expenses and taxes specifically charged to the subscriber or purchaser Angabe der Kosten und Steuern, die speziell dem Zeichner oder Käufer in Rechnung gestellt werden Offering price / Issue Price: per cent free to trade plus accrued interest from 17 July 2013 (including) to 4 September 2013 (excluding) Angebotspreis / Ausgabepreis: 102,50 % freibleibend plus Stückzinsen vom 17. Juli 2013 (einschließlich) bis zum 4. September 2013 (ausschließlich) If a potential purchaser acquires the Notes from a third party, then the purchase price payable by the potential purchaser may contain third-party proceeds the amount of which is specified by the third party. Wenn ein potentieller Käufer die Schuldverschreibungen von einem Dritten erwirbt, dann kann der von dem potentiellen Käufer zu entrichtende Kaufpreis einen Erlös des Dritten beinhalten, dessen Höhe von dem Dritten festgelegt wird. Placing and Underwriting Platzierung und Übernahme Name and address of the co-ordinator(s) of the global offer or of single parts of the offer and, to the extent known to the Issuer or to the offeror, of the placers in the various countries where the offer takes place Name und Anschrift des Koordinators/der Koordinatoren des gesamten Angebots oder einzelner Teile des Angebots und sofern der Emittentin oder dem Anbieter bekannt Angaben zu den Platzeuren in den einzelnen Ländern des Angebots not applicable nicht anwendbar Method of distribution Vertriebsmethode Non-syndicated Nicht syndiziert Syndicated Syndiziert Management Details including form of commitment Einzelheiten bezüglich des Bankenkonsortiums einschließlich der Art der Übernahme Specify Management Group or Dealer (including address) DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main Platz der Republik Frankfurt am Main Federal Republic of Germany Bankenkonsortium oder Platzeur angeben (einschließlich Adresse) DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main Platz der Republik Frankfurt am Main Bundesrepublik Deutschland firm commitment feste Zusage no firm commitment / best efforts arrangements keine feste Zusage / zu den bestmöglichen Bedingungen Commissions Provisionen 9

10 Management/Underwriting Commission Management-/Übernahmeprovision Selling Concession Verkaufsprovision Other (specify) Andere (angeben) Stabilising Dealer/Manager Kursstabilisierender Platzeur/Manager Subscription Agreement Übernahmevertrag Date of Subscription Agreement Datum des Übernahmevertrags General features of the Subscription Agreement: Under the subscription agreement, the Issuer agrees to issue the Notes and each Dealer agrees to purchase the Notes and the Issuer and each Dealer agree inter alia on the aggregate principal amount of the issue, the principal amount of the Dealer s commitment, the Issue Price, the Issue Date and the commissions. Angabe der Hauptmerkmale des Übernahmevertrags: Unter dem Übernahmevertrag vereinbart die Emittentin, Schuldverschreibungen zu emittieren und jeder Platzeur stimmt zu, Schuldverschreibungen zu erwerben. Die Emittentin und jeder Platzeur vereinbaren im Übernahmevertrag unter anderem den Gesamtnennbetrag der Emission, den gemäß der Übernahmeverpflichtung auf den Platzeur entfallenden Nennbetrag, den Ausgabepreis, den Valutierungstag und die Provisionen. not applicable nicht anwendbar not applicable nicht anwendbar not applicable nicht anwendbar None Keiner Date when the oral agreement on the issue of the Notes has been reached 28 August 2013 Tag der mündlichen Vereinbarung über die Begebung 28. August 2013 der Schuldverschreibungen D. ADMISSION TO TRADING, LISTING AND DEALING ARRANGEMENTS D. ZULASSUNG ZUM HANDEL, NOTIERUNG UND HANDELSREGELN Admission to Trading and Listing Börsenzulassung und -notierung Luxembourg Stock Exchange Luxemburger Wertpapierbörse Admission: Regulated Market "Bourse de Luxembourg" / Listing: Official List Börsenzulassung: Regulierter Markt "Bourse de Luxembourg" / Notierung: Amtlicher Handel Frankfurt Stock Exchange Frankfurter Wertpapierbörse Regulated Market Regulierter Markt Other (insert details) Sonstige (Einzelheiten einfügen) Date of admission Application for admission will be made on 2 September Termin der Zulassung Ein Antrag auf Zulassung wird am 2. September 2013 gestellt. 10

11 All markets appearing on the list of regulated markets issued by the European Commission or equivalent markets on which, to the knowledge of the Issuer, Notes of the same class of the Notes to be offered or admitted to trading are already admitted to trading Angabe sämtlicher Märkte, wie sie in der Übersicht der Europäischen Kommission über die geregelten Märkte aufgeführt sind, oder gleichwertiger Märkte, auf denen nach Kenntnis der Emittentin Schuldverschreibungen der gleichen Wertpapierkategorie, die zum Handel angeboten oder zugelassen werden sollen, bereits zum Handel zugelassen sind Luxembourg Stock Exchange Luxemburger Wertpapierbörse Frankfurt Stock Exchange Frankfurter Wertpapierbörse Other (insert details) Sonstige (Einzelheiten einfügen) Name and address of the entities which have a firm commitment to act as intermediaries in secondary trading, providing liquidity through bid and offer rates and description of the main terms of their commitment Name und Anschrift der Institute, die aufgrund einer festen Zusage als Intermediäre im Sekundärhandel tätig sind und für Liquidität mittels Geld- und Briefkursen sorgen, und Beschreibung der Hauptbedingungen ihrer Zusage not applicable nicht anwendbar No Admission to Trading and Listing Keine Börsenzulassung und notierung 11

12 PART II/2: TEIL II/2: ADDITIONAL INFORMATION ZUSÄTZLICHE ANGABEN The Selling Restrictions set out in the Prospectus shall apply. Es gelten die im Prospekt wiedergegebenen Verkaufsbeschränkungen. TEFRA C TEFRA C TEFRA D TEFRA D Neither TEFRA C nor TEFRA D Weder TEFRA C noch TEFRA D Rating of the Notes Rating der Schuldverschreibungen Fitch A Fitch A Fitch Ratings Ltd ("Fitch") is established in the European Community and registered since 31 October 2011 under Regulation (EC) 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended, (the "CRA Regulation"). Fitch is included in the "List of registered and certified CRA s" published by the European Securities and Markets Authority on its website ( in accordance with the CRA Regulation. Fitch Ratings Ltd ("Fitch") hat seinen Sitz in der Europäischen Gemeinschaft und ist seit dem 31. Oktober 2011 gemäß der Verordnung (EG) Nr. 1060/2009 des Europäischen Parlaments und des Rates vom 16. September 2009 über Ratingagenturen in der jeweils gültigen Fassung (die "Ratingagenturen-Verordnung") registriert. Fitch ist in der "List of registered and certified CRA s" aufgeführt, die von der European Securities and Markets Authority auf ihrer Internetseite ( gemäß der Ratingagenturen-Verordnung veröffentlicht wird. Listing: Börsenzulassung: The above Final Terms comprise the details required to list this issue of Notes pursuant to the Debt Issuance Programme of DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and DZ PRIVATBANK S.A. (as from 4 September 2013). Die vorstehenden Endgültigen Bedingungen enthalten die Angaben, die für die Börsennotierung dieser Emission von Schuldverschreibungen gemäß des Debt Issuance Programme der DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main und der DZ PRIVATBANK S.A. (ab dem 4. September 2013) erforderlich sind. Third Party Information: Informationen von Seiten Dritter: With respect to any information included herein and specified to be sourced from a third party (i) the Issuer confirms that any such information has been accurately reproduced and as far as the Issuer is aware and is able to ascertain from information available to it from such third party, no facts have been omitted which would render the reproduced information inaccurate or misleading and (ii) the Issuer has not independently verified any such information and accepts no responsibility for the accuracy thereof. Hinsichtlich der hierin enthaltenen und als solche gekennzeichneten Informationen von Seiten Dritter gilt Folgendes: (i) Die Emittentin bestätigt, dass diese Informationen zutreffend wiedergegeben worden sind und soweit es der Emittentin bekannt ist und sie aus den von diesen Dritten zur Verfügung gestellten Informationen ableiten konnte keine Fakten weggelassen wurden, deren Fehlen die reproduzierten Informationen unzutreffend oder irreführend gestalten würden; (ii) die Emittentin hat diese Informationen nicht selbständig überprüft und übernimmt keine Verantwortung für ihre Richtigkeit. DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main 12

13 ANNEX TO THE FINAL TERMS ISSUE-SPECIFIC SUMMARY EUR 20,000,000 Fixed Rate Subordinated Notes of 2013/2022 Issue-Specific Summaries are made up of disclosure requirements known as "Elements". These Elements are numbered in Section A E (A.1 E.7). This Issue-Specific Summary contains all the Elements required to be included in a summary for the Tranche of Notes and Issuer. Because some Elements are not required to be addressed, there may be gaps in the numbering sequence of the Elements. Even though an Element may be required to be inserted in this Issue-Specific Summary because of the Tranche of Notes and Issuer, it is possible that no relevant information can be given regarding the Element. In this case a short description of the Element is included in this Issue-Specific Summary with the mention of "Not applicable". Section A Introduction and Warnings Element A.1 Warning that: any decision by an investor to invest in the Tranche of the Notes should be based on consideration of the Debt Issuance Programme Prospectus dated 14 May 2013 (the "Prospectus") as a whole, including the documents incorporated by reference, any supplement thereto and the Final Terms; A.2 Consent to use the Prospectus where a claim relating to the information contained in the Prospectus, the documents incorporated by reference, any supplement thereto and the Final Terms is brought before a court, the plaintiff investor might, under the national legislation of such court, have to bear the costs of translating the Prospectus, the documents incorporated by reference, any supplement thereto and the Final Terms before the legal proceedings are initiated; civil liability attaches to the relevant Issuer, who has tabled this Issue-Specific Summary including any translation thereof, but only if this Issue-Specific Summary is misleading, inaccurate or inconsistent when read together with the other parts of the Prospectus, the documents incorporated by reference and any supplement to the Prospectus or it does not provide, when read together with the other parts of the Prospectus, the documents incorporated by reference and any supplement to the Prospectus, key information in order to aid investors when considering whether to invest in the Tranche of the Notes. The Issuer has given its consent in accordance with Article 3 (2) of the Prospectus Directive to the use of the Prospectus and of the Final Terms for offers, subsequent resales or final placements of Notes issued under the Debt Issuance Programme (the "Programme") by each dealer set forth on the cover page of the Prospectus, by any additional dealer appointed under the Programme from time to time by the Issuer (each a "Dealer" and together the "Dealers") and/or by each further financial intermediary, if any. Each Dealer and/or each further financial intermediary, if any, offering, subsequently reselling or finally placing the Notes issued under the Programme are entitled to use and rely upon the Prospectus as long as the Prospectus is valid in accordance with Article 11 of the Law of 10 July 2005 on prospectuses for securities (Loi du 10 juillet 2005 relative aux prospectus pour valeurs mobilières), as amended by the Law of 3 July 2012 (Loi du 3 juillet 2012). Each Dealer and/or each further financial intermediary, if any, may only use the Prospectus and the Final Terms, if the latter have been communicated to the relevant competent authority, for offers, subsequent resales or final placements of Notes issued under the Programme in the Grand Duchy of Luxembourg, the Federal Republic of Germany, the United Kingdom of Great Britain and Northern Ireland, the Republic of Austria, the Kingdom of the Netherlands and Ireland. Each Dealer and/or each further financial intermediary, if any, are required to inform themselves about the aforementioned communication of the Final Terms. When using the Prospectus and the Final Terms, each Dealer and/or each further financial intermediary, if any, must ensure that they comply with all applicable laws and regulations in force in the respective jurisdiction. The distribution and publication of the Prospectus, any supplement to the Prospectus, if any, and the Final Terms as well as offers, subsequent resales or final placements of Notes in certain countries may be restricted by law. Each Dealer and/or each further financial intermediary, if any, and/or each person into whose possession the Prospectus, any supplement to the Prospectus, if any, and the Final Terms come are required to inform themselves about and observe any such restrictions. The Issuer reserves the right to withdraw its consent to the use of the Prospectus. As required by law, in the event of an offer being made by any Dealer and/or any further financial intermediary, such Dealer and/or such further financial intermediary have to provide information to investors on the terms and conditions of the offer at the 13

14 time the offer is made. Section B DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main as Issuer Element B.1 Legal Name Commercial Name B.2 Domicile / Legal Form / Legislation / Country of Incorporation DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main ("DZ BANK" or "Issuer"). DZ BANK AG. Domicile: Platz der Republik, Frankfurt am Main, Federal Republic of Germany. B.4b Known Trends affecting the Issuer and the Industries in which it operates B.5 Organisational Structure / Subsidiary Companies Legal Form, Legislation: DZ BANK is a stock corporation (Aktiengesellschaft) organised under German law and is supervised by the German Central Bank (Deutsche Bundesbank) and the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht ("BaFin")). Country of Incorporation: DZ BANK is registered with the commercial register of the local court (Amtsgericht) in Frankfurt am Main, Federal Republic of Germany. Not applicable. There are no known trends affecting DZ BANK and the industries in which it operates. In addition to DZ BANK as parent, the consolidated financial statements for the financial year ended 31 December 2012 include a further 27(2011: 26) subsidiaries and 6 (2011: 5) subgroups with a total of 831 (2011: 903) subsidiaries. B.9 Profit Forecast or Estimate Not applicable. DZ BANK does not generate any profit forecast or estimate. B.10 Nature of any Qualifications in the Audit Report B.12 Selected Historical Key Financial Information Not applicable. Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft audited the nonconsolidated financial statements together with the respective management reports and the consolidated financial statements together with the respective group management reports for the financial years ended 31 December 2012 and 2011 and issued in each case an unqualified audit opinion. The following financial data have been extracted from the audited non-consolidated financial statements of DZ BANK AG for the financial year ended 31 December 2012 prepared on the basis of the regulations of the German Commercial Code (Handelsgesetzbuch / HGB) and the Order on the Accounting of Credit Institutions and Financial Services Institutions (RechKredV). The financial data as of 31 December 2011 are comparative figures which were taken from the audited non-consolidated financial statements for the financial year ended 31 December 2012 of DZ BANK AG. DZ BANK AG (in EUR million) Assets (HGB) 31 Dec Dec Equity and Liabilities (HGB) 31 Dec Dec Loans and advances to banks 86,993 90,061 Deposits from banks 96, ,537 14

15 of which: to affiliated banks 49,999 51,154 Loans and advances to customers 24,094 23,903 Securities¹ 41,126 43,351 of which: from affiliated banks 41,670 49,586 Deposits from customers 26,133 28,821 Debt certificates, including bonds 38,900 36,571 Trading assets 69,363 70,412 Trading liabilities 58,371 60,125 Miscellaneous assets 16,928 17,685 Total assets 238, ,412 Miscellaneous liabilities² 8,196 7,764 Equity 3 10,339 9,594 Total equity and liabilities 238, ,412 ¹ Bonds and other fixed-income securities plus shares and other variable-yield securities. ² Miscellaneous liabilities as reported in the balance sheet including Distributable profit. 3 Equity as reported in the balance sheet, excluding Distributable profit, including Fund for general banking risks The following financial data have been extracted from the audited consolidated financial statements of DZ BANK for the financial year ended 31 December 2012 prepared pursuant to Regulation (EC) 1606/2002 of the European Parliament and Council of 19 July 2002 on the basis of the International Financial Reporting Standards (IFRS) as adopted by the European Union and the additional requirements of German Commercial Law pursuant to Sec. 315a par. 1 of the German Commercial Code (HGB). The financial data as of 31 December 2011 are comparative figures which were taken from the audited consolidated financial statements for the financial year ended 31 December 2012 of DZ BANK. DZ BANK Group (in EUR million) Assets (IFRS) 31 Dec Dec Equity and Liabilities (IFRS) 31 Dec Dec Loans and advances to banks 79,429 80,035 Deposits from banks 100, ,919 Loans and advances to customers 123, ,760 Financial assets held for trading 66,709 71,858 Investments 59,792 61,690 Deposits from customers 92,169 92,871 Debt certificates including bonds 63,290 55,114 Financial liabilities held for trading 58,715 67,371 Investments held by insurance companies 66,296 59,348 Insurance liabilities 63,260 57,437 Property, plant and equipment, and investment property 1,841 2,219 Subordinated capital 4,302 3,935 Miscellaneous assets 9,358 10,016 Total assets 407, ,926 Miscellaneous liabilities 12,263 11,504 Equity 12,641 10,775 Total equity and liabilities 407, ,926 Trend Information / Statement of "No Material Adverse Change": Statement of "Significant change in the Issuer s financial position": There has been no material adverse change in the prospects of DZ BANK since 31 December 2012 (the date of the last published audited annual non-consolidated and consolidated financial statements). There has been no significant change in the financial and trading position of DZ BANK Group since 31 December 2012 (the date of the last published audited annual consolidated financial statements). B.13 Recent Developments Not applicable. There are no recent events particular to the Issuer s business activities which are to a material extent relevant to the evaluation of the Issuer s solvency. B.14 Organisational Structure / Dependence on other Entities Please read Element B.5 together with the information below. 15

16 within the Group B.15 Principal Activities / Principal Markets Not applicable. The Issuer is independent from other Group companies. Principal Activities: In its capacity as the central credit institution DZ BANK shall, pursuant to its Articles of Incorporation, further the aims of the entire cooperative system. An essential element of this statutory task of the corporation is the furtherance of the aims of the primary level and the central banks of the cooperative system. DZ BANK shall participate in the furtherance of the cooperative housing sector. Furthering the economic aims of its shareholders is the basic policy from which all obligations of DZ BANK are derived. The shareholders have a corresponding obligation to support DZ BANK in the fulfilment of this duty. Mergers between cooperative credit institutions of the primary level and DZ BANK are not permitted. DZ BANK may engage in all types of banking transactions that constitute the business of banking and in transactions complementary thereto, including the acquisition of equity investments. DZ BANK may also attain its objectives indirectly. In its capacity as the central credit institution DZ BANK shall conduct liquidity operations for the associated primary cooperatives and other institutions of the cooperative system. In 2001, DZ BANK emerged as a new lead institution of the Volksbanken Raiffeisenbanken cooperative financial network (the "Cooperative Financial Network") and as central bank for at present over 900 cooperative banks. Business Lines: - Retail Banking - Corporate Banking - Capital Markets - Transaction Banking Principal Markets: DZ BANK is primarily active in the Federal Republic of Germany as an Allfinanz-Group. Within the cooperative financial network DZ BANK assumes the role of a central bank. With its products and services DZ BANK primarily supports the local cooperative banks in the Federal Republic of Germany in serving their customers. Therefore, DZ BANK has generally no direct customer contact in the retail banking sector. DZ BANK is also a corporate bank with a European focus and acts as a holding company to coordinate the activities of the specialised institutions in the DZ BANK Group. Currently DZ BANK has four branches in the Federal Republic of Germany (Berlin, Hanover, Munich and Stuttgart) and four foreign branches (London, New York, Hong Kong and Singapore). The four German branches oversee the sub-offices Hamburg, Karlsruhe, Leipzig, Oldenburg and Nuremberg. B.16 Major Shareholders Currently % of the subscribed capital of EUR 16

17 3,160,097, is held by corporate entities of the cooperative sector. Others hold 4.15 % of DZ BANK s subscribed capital. The group of shareholders is composed as follows: Local cooperative banks (directly and indirectly) % WGZ BANK AG Westdeutsche Genossenschafts- Zentralbank, Düsseldorf (directly and indirectly) 6.67 % Other cooperative societies 6.88 % Others 4.15 % B.17 Rating of the Issuer DZ BANK is rated by Standard & Poor s Credit Market Services Europe Limited ("S&P") 1, Moody s Deutschland GmbH ("Moody s") 2 and Fitch Ratings Limited ("Fitch") 3. As at the date of approval of this Prospectus the ratings assigned to DZ BANK were as follows: S&P: Moody s: long-term rating: AAshort-term rating: A-1+, long-term rating: A1 short-term rating: P-1, Fitch: long-term rating: A+ short-term rating: F1+ The Notes are rated A by Fitch. A rating is not a recommendation to buy, sell or hold Notes issued under this Programme and may be subject to suspension, reduction or withdrawal at any time by the assigning rating agency. A suspension, reduction or withdrawal of the rating assigned to the Issuer may adversely affect the market price of the Notes issued under this Programme. The current ratings may be obtained from DZ BANK s website " Section C Notes Element C.1 Type and Class of the Notes / Security Identification Number Type of the Notes : The Notes are issued on a fixed rate interest basis. ISIN (International Securities Identification Number): 1 S&P is established in the European Community and registered since 31 October 2011 under Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended, (the "CRA Regulation"). S&P is included in the "List of registered and certified CRA s" published by the European Securities and Markets Authority on its website ( in accordance with the CRA Regulation. 2 Moody s is established in the European Community and registered since 31 October 2011 under the CRA Regulation. Moody s is included in the "List of registered and certified CRA s" published by the European Securities and Markets Authority on its website ( in accordance with the CRA Regulation. 3 Fitch is established in the European Community and registered since 31 October 2011 under the CRA Regulation. Fitch is included in the "List of registered and certified CRA s" published by the European Securities and Markets Authority on its website ( in accordance with the CRA Regulation. 17

18 DE000DZ1JB29. Common Code: C.2 Currency of the Notes The Notes are issued in euro. C.5 Restrictions on free Transferability Not applicable. The Notes are freely transferable. C.8 Rights attached to the Notes / Status of the Notes Governing Law: The Notes will be governed by German law. Rights attached to the Notes: The holders of Notes (the "Holders") have an interest claim and a redemption claim against the Issuer. The Notes cannot be redeemed prior to their stated maturity (except upon the occurrence of a Regulatory Event). Gross-up provision: No; Early Redemption for Reasons for Taxation: No; Early Redemption upon the occurrence of a Regulatory Event: Yes; Early Redemption Amount: EUR 20,000,000. Status of the subordinated Notes: Subordinated Notes issued by DZ BANK will be issued as Tier-2-Subordinated Notes and will constitute unsecured and subordinated obligations of DZ BANK ranking pari passu among themselves and pari passu with all other subordinated obligations of DZ BANK. In the event of the dissolution, liquidation or insolvency of DZ BANK, such obligations will be fully subordinated to the claims of other unsubordinated creditors of DZ BANK. Limitation of the rights attached to the Notes: Not applicable. There are no limitations of the rights attached to the Notes. C.9 Interest Rate / Yield / Maturity Date Fixed Rate Notes: The Notes bear a fixed interest income throughout the entire term of the Notes. The Notes shall bear interest on the principal amount at an interest rate of per cent per annum from the Issue Date (inclusive) to the Maturity Date (exclusive). Interest shall be payable annually in arrears on 30 December. The first interest payment shall be made on 30 December 2013 (short first coupon). The last interest payment shall be made on the Maturity Date; 18

19 Yield: per cent per annum; The calculation of yield is based on the ICMA (International Capital Market Association) method. The ICMA method determines the effective interest rate of notes taking into account accrued interest on a daily basis. Business Day Convention: Following Business Day Convention Adjustment of Interest: No; Day Count Fraction: Actual/Actual (ICMA Rule 251). Maturity Date: 30 December 2022; Subject to an early redemption, the Issuer will redeem the Notes on the Maturity Date at par. Any amounts payable shall be paid to, or to the order of, the Clearing System for credit to the accounts of the relevant account holders for subsequent transfer to the Holders. The Issuer will be discharged from its payment obligation to the Holders by payment to, or to the order of, the Clearing System. Name of Representative of the Holders: Not applicable. There is no representative of the Holders. C.10 Derivative Component in the Interest Payment Please read Element C.9 together with the information below. Not applicable. The Notes have no derivative component in the interest payment. C.11 Application for admission to Trading C.21 Market where the Notes will be traded An application for admission to trading of the Notes on a regulated market will be made. Frankfurt Stock Exchange: Admission and Listing: Regulated market of the Frankfurt Stock Exchange. Section D Risks Element D.2 Key Risks regarding the Issuer General: The exploitation of business opportunities and the systematic controlled assumption of risk in relation to target returns form an integral part of corporate control in 19

20 the DZ BANK Group. The activities resulting from the DZ BANK Group s business model require the ability to identify, measure, assess, manage, monitor, and communicate opportunities and risks. The need to cover risks with adequate capital and hold appropriate reserves of cash is also recognized as an essential prerequisite for the operation of the business and is of fundamental importance. In all its activities, the DZ BANK Group therefore abides by the principle of only taking on risk to the extent absolutely necessary to achieve business objectives and to the extent that the risk appears manageable. All DZ BANK Group companies are integrated into the risk management system. The following companies represent the core of the financial services group. They are deemed to be material in terms of their contribution to the DZ BANK Group s aggregate risk and are therefore directly incorporated into the group s risk management system: DZ BANK, Bausparkasse Schwäbisch Hall Aktiengesellschaft, Schwäbisch Hall ("BSH"), Deutsche Genossenschafts-Hypothekenbank AG, Hamburg ("DG HYP"), DVB Bank SE, Frankfurt am Main ("DVB"), DZ BANK Ireland plc, Dublin, Ireland ("DZ BANK Ireland"), DZ BANK Polska S.A., Warszawa, Poland, ("DZ BANK Polska"), DZ PRIVATBANK S.A., Luxemburg-Strassen, Luxembourg ("DZ PRIVATBANK S.A."), R+V Versicherung AG, Wiesbaden ("R+V"), TeamBank AG Nürnberg, Nuremberg ("TeamBank"), Union Asset Management Holding AG, Frankfurt am Main ("Union Asset Management Holding") and VR-LEASING Aktiengesellschaft, Eschborn ("VR-LEASING"). The other companies are included in the system as part of equity risk. The management units ensure that their respective subsidiaries and investees are also included in the DZ BANK Group s risk management system indirectly via the majority-owned companies and also meet the minimum standards applicable throughout the group. The DZ BANK Group and DZ BANK are subject to different risks within their business activities. The primary risk types are the following: General risk information: If one or more of the following risk factors come into effect, this may have a negative impact on the assets, earnings and financial position of the Issuer, which may prevent it from meeting some or all of its obligations arising from the securities issued under this Prospectus. Credit Risk: Credit risk is defined as the risk of losses arising from the default of counterparties (borrowers, issuers, other counterparties) or the loss of value caused by migration of a borrower s credit rating. 20

21 Credit risk may arise in traditional lending business and also in trading activities. Traditional lending business is for the most part commercial lending, including financial guarantee contracts and loan commitments. In the context of credit risk management, trading activities refers to capital market products such as securities (in both the banking book and the trading book), promissory notes, derivatives, secured money market business (such as sale and repurchase agreements, referred to below as repo transactions), and unsecured money market business. In traditional lending business, credit risk arises in the form of default risk. In this context, default risk refers to the risk that a customer may be unable to settle receivables arising from loans or advances made to the customer (including lease receivables) or make overdue payments, or that losses may arise from contingent liabilities or from lines of credit committed to third parties. Credit risk in connection with trading activities arises in the form of default risk that can be subdivided into replacement risk, issuer risk, and settlement risk, depending on the type of business involved. Replacement risk on derivatives is the risk of counterparty default during the maturity of a trading transaction where companies in the DZ BANK Group can only enter into an equivalent transaction with another counterparty if they incur an additional expense in the amount of the positive fair value at the time of the default. Issuer risk is the risk is of incurring losses from the default of issuers of tradable debt or equity instruments (such as bonds, shares, profit-participation certificates), losses from a default in connection with the underlying instrument in derivatives (for example, credit or equity derivatives), or losses from a default in connection with fund components. Settlement risk arises in connection with trading transactions that are not processed concurrently. The risk is that counterparties do not meet their obligations, counter-performance already having taken place. Country risk is treated as a risk subcategory within credit risk. Country risk in the narrower sense of the term refers to conversion, transfer, payment prohibition, or moratorium risk. It is the risk that a foreign government may impose restrictions preventing a debtor in the country concerned from transferring funds to a foreign creditor. In the broader sense of the term, country risk forms part of credit risk. In this case, it refers to the risk arising from exposure to the government itself (sovereign risk) and the risk that the quality of the overall exposure in a country may be impaired as a result of country-specific events. 21